Ildong Holdings Affiliate Idience Secures 33 Billion KRW Investment

[Asia Economy Reporter Cho Hyun-ui] Idience, a subsidiary of Ildong Holdings, successfully secured its first financial investor (FI) funding since its establishment last year.

On the 9th, Idience announced that as of the 6th, it had secured an investment amount of 33 billion KRW, and with additional investments scheduled for next month, it will complete a total investment attraction of 40 billion KRW.

Multiple institutional investors participated in this investment, including Yuanta Investment, TS Investment, Mirae Asset Capital, and Seoul Investment Partners.

Idience plans to accelerate the clinical development of the innovative anticancer drug candidate ‘IDX-1197,’ which is approaching entry into U.S. authorized clinical trials, using the funds secured this time.

The company is currently conducting Phase 1b/2a clinical trials of the anticancer drug candidate IDX-1197 targeting seven cancer types at 18 clinical trial centers nationwide. Additionally, it will actively proceed with the introduction and development of additional anticancer drug pipelines under review.

Won-sik Lee, CEO of Idience, said, “This funding reflects investors’ trust in the company’s ability to secure pipelines and its new drug development capabilities,” adding, “Idience is enhancing its competitiveness in terms of speed and efficiency of new drug research and development through close cooperation with affiliated companies Ildong Pharmaceutical and Aims Bioscience.”

This content was produced with the assistance of AI translation services.